From W$J:

The nation's technology capital lost 185,000 jobs, or one in five, between 2001 and 2005. This year, state economists expect a net inflow of people into the area for the first time in six years.

Just as noteworthy as the comeback is the source of all the new jobs. For the most part, it isn't giants such as Cisco Systems Inc., Sun Microsystems Inc. and Intel Corp. They're adjusting to slower growth rates and in some cases continuing to shed workers. The biggest demand comes from thousands of small and midsize companies and start-ups ..., suggesting that Silicon Valley's entrepreneurial ferment survived the bust just fine. Companies are typically looking for experienced workers who are well-versed in hot technologies.

And, yet, fears of recession seem to be spreading elsewhere in the U.S.

Some used to talk about creating "the next Silicon Valley," while others argued that there is only one. Well, Silicon Valley is looking pretty unusual right now.

HT Darian Ibrahim.

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